IndusInd, HDFC Bank & Bajaj Finance: Mitesh Panchal's take on these 3 stocks; stays 'ultra-bullish' in this space

Sebi-registered analyst Mitesh Panchal expects the public sector undertaking (PSU) space to see a comeback. "For the financial year 2025-26, PSUs will come back. We have seen a great run in Cochin Shipyard, Mazagon Dock, NBCC, SJVN and BHEL shares. The way these stocks have performed in last two to three weeks, it is giving us a lot of comfort now that the bottom is in the place and probably for the FY26, one should not ignore this sector," the market expert told Business Today.

"We have a rerating call on this sector after reviewing it. And, we are of the view that the entire sector will perform exceptionally well in the next three to six months and probably surprise everyone on the Street. We are ultra-bullish on the entire PSU space," he added.

In response to a combined query on HDFC Bank Ltd and Bajaj Finance Ltd shares, Panchal said, "Undoubtedly, both the stocks and charts are looking pretty interesting. Expected upside targets for HDFC Bank shares will be Rs 2,000-2,050. For Bajaj Finance, around 10-15 per cent upside is visible. There is a strong upside left in these two counters. Both these stocks can see 10-15 per cent upside from hereon in the next 6 to 9 months."

When asked about IndusInd Bank Ltd, he said, "The stock has beaten down heavily in the recent past and we have seen a periodic pullback from Rs 606 to a high of around Rs 800. However, such an upmove may not continue going forward. So, if you've bought at the lower range then consider exiting at higher levels. Looking at the price structure, don't be an aggressive buyer or seller as the stock is in a consolidation phase. From hereon, the stock could trade in a range between Rs 720 and Rs 850 for the next 3-6 months. It is advisable to avoid the stock both on the buy and sell sides."

Meanwhile, Indian equity benchmarks will remain closed today on the account of Good Friday. Trading will resume on Monday (April 21) at usual hours. On Thursday, the 30-share BSE Sensex pack zoomed 1,509 points or 1.96 per cent to close at 78,553 and the broader NSE Nifty index surged 414 points or 1.77 per cent to end at 23,852.

The overall market breadth was strong as 2,396 shares advanced while 1,563 declined on BSE. 147 stocks stayed unchanged.